SPAC IPOs Mixed, DCRN Deal Slightly Rises, IPOE/SoFi Up Next
IPOE fell ahead of its vote tomorrow, while DCRN rose slightly on its deal with Tritium. Of today s SPAC IPOs: 1 rose, and 2 fell.
Author:
This morning
Decarbonization Plus II (DCRN) announced a deal to take Tritium, an Australian EV charge company, public in a $1.4B SPAC deal. The deal has no PIPE and they currently have $403M in trust. The market was, somewhat, pleased with the deal as DCRN rose modestly +1.4%, though it still trades at a sizable discount to NAV at $9.79. This represents
a potential ~6% yield opportunity if you believe that the deal vote (when an investor could redeem its shares) happens within ~4-6 months.
Best SPAC Stocks for Monday
Watch for more short seller activity on SPAC stocks and lots of opportunities to buy below NAV. Will CLOV surge on short squeeze?
Author:
Apr 19, 2021
Last week was another relatively quiet week in the SPAC market with no new IPOs that s the first time in quite a while with no new supply. There were also only 3 new SPAC S-1s filed, for $350m, in another positive sign for the health of the SPAC market. Don t expect a major change in activity this week as the headwinds from the SEC and general oversupply remain in effect. But, remember, this slowdown is good news and shows the market is getting healthier.
SPAC Wrap: New Deal Duds, and QuantumScape Slammed by Short Seller Report
DEH and CHFW drummed up little investor enthusiasm for their SPAC merger announcements. SPAC IPOs remain parked and SPACs generally traded lower on the day. QS sold off on short seller report.
Author:
Apr 15, 2021
Two new deals were announced this morning, which felt like a lot of activity relative to what investors have become used to lately. However, neither of those deals, were met with much investor enthusiasm:
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down 0.3%, and remains below NAV at $9.85
Perhaps it was a little bit of a risk-off sentiment in the market as both of the SPAC targets, Vicarious Surgical + Surrozen, are speculative pre-revenue healthcare plays.
The SEC is zeroing in on SPACS. Altimeter (AGC) is taking Grab public in a record breaking $40b dollar SPAC merger. SPACs with announced deals took it on the chin yesterday.